Economy

Will the State Council Suspend Mikati’s Decision?
Will the State Council Suspend Mikati’s Decision?

Following the adoption of fourteen laws during the Parliament sessions on December 14 and 15 and the decision of the Council of Ministers, during its session on December 19, to issue these laws in the name of the President of the Republic, caretaker Prime Minister Najib Mikati signed only eleven laws, deciding not to publish three others, ...

Economic Organizations Call on MPs to Vote for the Budget With Amendments
Economic Organizations Call on MPs to Vote for the Budget With Amendments

Economic organizations called on MPs on Monday to vote for the budget with its amendments to avoid having it be promulgated by decree. On the eve of Parliament's general sessions scheduled for Wednesday and Thursday to examine the draft budget for fiscal year 2024, the economic organizations issued a statement in which they called on MPs and ...

Consumer Prices: +0.02% in December
Consumer Prices: +0.02% in December

The Central Administration of Statistics (ACS) reported on Monday that the consumer price index in Lebanon for December 2023 recorded an increase of 0.02% compared to November 2023. This increase remains very moderate compared to the rebounds recorded in other months of the year (33.27% in March and 5.35% in May). On the other hand, the index ...

New Measures for Account Holders in Lebanese Pounds
New Measures for Account Holders in Lebanese Pounds

The statements of Caretaker Prime Minister Najib Mikati, made on the sidelines of the Davos forum, about the impeding recovery of bank deposits have keyed up the online community, triggered various interpretations, and stirred up confusion among the public. Caretaker PM Najib Mikati announced from Davos that "a clear program detailing how ...

Cadastre: Processing Accumulated Formalities Starting Monday
Cadastre: Processing Accumulated Formalities Starting Monday

The press office of the Ministry of Finance announced on Friday that the cadastral and land administration offices will reopen their doors on Monday, as per the request of the Caretaker Minister of Finance, Youssef el-Khalil. Initially, they will process the accumulated requests and transactions from the past months. Once this work is completed, ...

Hamieh: A Budget of 60$ Million Is Not Enough for Road Maintenance
Hamieh: A Budget of 60$ Million Is Not Enough for Road Maintenance

Caretaker Minister of Public Works and Transport, Ali Hamieh, stated on Friday that the allocated amount for road maintenance in the budget for the year 2024 is equivalent to 20% of the minimum amount required to ensure public and road safety. Hamieh called on the MPs to examine the financial aspect of road maintenance during the budget ...

Extension of VAT Payment Deadlines
Extension of VAT Payment Deadlines

The Caretaker Minister of Finance, Youssef El-Khalil, issued a decision on Friday extending the deadline for the payment of the value-added tax (VAT). This extension aims to provide taxpayers with more time to settle this tax and, consequently, avoid late fines. Accordingly, the deadline for submitting the periodic declaration and payment of VAT ...

Kanaan: The Budget Was Nothing More Than Tax Collection
Kanaan: The Budget Was Nothing More Than Tax Collection

The President of the Finance and Budget Committee, MP Ibrahim Kanaan, stated in an interview broadcasted on 'MTV' that the budget submitted to Parliament lacks an economic and social vision. He remarked, "It was nothing more than a tax collection process." Kanaan asserted, "In the audit we conducted, it was evident that the government's revenue ...

Budget 2024: Berri Convenes Parliament Sessions on January 24-25
Budget 2024: Berri Convenes Parliament Sessions on January 24-25

The Speaker of Parliament, Nabih Berri, summoned MPs on Friday to sessions on Wednesday, January 24 and Thursday, January 25 at 11 AM to study and approve the 2024 budget. He also specified that dedicated sessions would be held in the evening of these two days. The draft State budget, having been finalized on Monday by the parliamentary Finance ...

End-of-Service Indemnities, Unnecessary Battles
End-of-Service Indemnities, Unnecessary Battles

What once was a social safety net, represented by the National Social Security Fund (NSSF), is no longer. Despite the good will of NSSF Director-General Mohammad Karaki, the calculation and withdrawal process of end-of-service indemnities continue to pose a complicated contention. Unfortunately, it is the employees, who are the most vulnerable, ...

The Conundrum of Syrians in Lebanon
The Conundrum of Syrians in Lebanon

The Syrian issue is one of those recurring topics filled with bold statements, speeches at international podiums and "repatriation plans" on paper. However, the actual implementation of measures by various security services, municipalities or ministers tends to unravel along the way. All of the above unfolds against a backdrop of societal ...

Ski Resorts: Less Snow, More Spending
Ski Resorts: Less Snow, More Spending

With climate change, ski resorts in Lebanon face the challenge of insufficient snow, increasingly shorter seasons, and rising expenses. Is it still a profitable sector? Climate change could signal the end of winter sports in Lebanon. While snow is still present in the mountains, it falls less frequently and later in the season. The first snowfall ...